Know the Updated Statistics about Magento Usage – Updated in May 2020
One of the very famous eCommerce platforms worldwide Magento is one of the most popular eCommerce platforms around the world. It was acquired recently by Adobe and is still amongst the top eCommerce platforms all over the world. Currently, about 250,000+ active eCommerce websites are being powered by Magento,which accounts for about 12% of all the ecommerce stores.
The high levels of customisation and usability has led to the success of Magento. There are about 315,000+ trained developers in Magento all over the world who help in creating a strong resource of extensions that have been tested and add more functionality to the online stores, thereby helping secure a lot of new users every single year. Here, we discuss the latest probable updates and challenges that face this platform.
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Not every person has time to check the statistics in detail and hence we have listed some of the statistics that you must be aware of related to the usage of Magento, the geographical locations, along with the performance of Magento’s brands.
Mentioned below are Magento’s latest statistics regarding its world-wide usage:
- There are about 250,000+ Magento stores active online.
- Magento is being used for about 12% of the online ecommerce stores.
- Magento powers about 1.2% of the whole of the internet.
- About 11,000 of the entire stores of Magento function on Magento 2.
- As on April 2020, the market share of Magento is 1.4% of all the websites which make use of content management systems (Source: w3techs)
- This platform is downloaded approximately 5,000 times each day.
- About 7,500 retailers have migrated to this platform from various other online store platforms in 2019.
* Unless stated otherwise, the figures mentioned above have been sourced from the Hosting Tribunal.
Geographical Location Stats
Mentioned below are the latest statistics of the location of Magento:
- Most of the users of Magento reside in the United States, and are about 39,612 sites.
- The United Kingdom is the second country which has most of the websites powered by Magento; with about 8,799 live websites.
- The third country is Germany with about 7,609 live sites that have been powered by Magento.
- Most of the Magento stores are in Europe and North America and Europe with an exception of Australia.
* These figures have been sourced from Builtwith.com
Mentioned below are the performance statistics of retailers who have chosen Magento:
- About 202 users of Magento are part of the Top 1000 Internet Retailer list (Sourced from Maven eCommerce).
- Magento is being used and trusted by the biggies inclusive of household names such as Ford and Coca Cola.
- In the last couple of years, specific brands that have used Magento have seen an increase of about 200% in growth, and many more such brands have seen an increase of 100% in growth (Source: Magento).
- In the year 2018, Magento had handled transactions of about $155 billion USD and this figure is achieved by it every single year (Sourced from Hosting Tribunal).
- The developers of Magento are the best in terms of assisting brands in optimizing their sales (Sourced from Yahoo! Finance).
The Battle of Online Store Platforms – Magento, WooCommerce, & Shopify.
eCommerce is one such sector that has seen rapid growth and it is expanding at a fast pace every single day. This itself has created a lot of competitors for Magento and retaining the top position has become a tough task. In simple words, there are 3 players in the eCommerce world: Magento, WooCommerce and Shopify. At some point of time, Magento was leading at the top, but now Shopify and WooCommerce have taken over it.
Though Magento is way behind the platforms of WooCommerce and Shopify when it comes to customer share, the platform hasn’t stopped giving its users some impressive results.
In November 2018, there was an announcement by Magento stating that it had been titled as the top ecommerce solution in Top 1000 ranking of Internet Retailer. It also stated that users who made use of Magento in the year 2018, had earned thrice the normal sales growth in contrast to that of their competitors on other alternative platforms. A few businesses who had used Magento had experienced a very impressive growth of 200% in their online sales in the 3-year period all the way to 2018.
Cart2Cart, which is an eCommerce migration expert, states that about 9% of the online retailers have migrated to Magento in the year 2019. Magento held the 3rd spot in terms of customer migration, right behind Shopify as well as WooCommerce. However, the figures are still positive and the top is tough every single year. As per Cart2Cart, the figures are not an indicator of one platform being better than the other platform. The choice of a platform for a retailer could vary based on their budget and the technical knowledge.
Magento – What lies in the future?
In addition to the competition from WooCommerce and Shopify, the greatest challenge faced by Magento at present is securing customers to migrate their websites from Magento 1 to Magento 2. Presently, Magento has been trying to convince the users to shift to Magento 2 module development and magento 2 extension development. It also is offering online tutorials free of cost so that businesses can use the services in a better way. This is due to the fact that the main platform will be at the end of its life as of June 2020 and no more security updates would be available, which would put the companies as well as their customers at a risk. There are about 200,000 – 240,000 business websites which have not implemented the magento custom extension development yet.
When it comes to growth, the scenario at present all over the world is an indicator of a boom in the eCommerce industry which is great news for all the online retailers who use Magento.
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Despite the various challenges faced by Magento, the platform is quite smart, innovative, and exciting. Magento is a great option for all kinds of businesses, small and large and this platform is bound to grow in the coming years. According to estimates, there is a probability that the online shoppers who opt for Magento could increase by around 200% in this year itself. However, there could be a further increase because of the imposition of lockdown measures in countries all over the world because of the COVID-19.